Sunlight Group Energy Storage Systems (Sunlight Group) announced today the acquisition of the 22% share capital held by BMG Energy in Sunlight European Battery Assemby (SEBA) and Sunlight Italy.
As the company states in a related announcement, this agreement further strengthens its dynamic presence in Italy and is part of Sunlight’s broader business plan, which includes the rapid implementation of multi-million investments to increase its production capacity and expand its sales network and services, to better serve the needs of the Western European market and OEMs (Original Equipment Manufacturers).
On July 28, 2022, an agreement was signed between Sunlight Group CEO Mr. Lambros Bisala and Mr. Flavio Scaramuzza and Wilhelm Menghin, owners of BMG Energy, which provides for the acquisition of BMG Energy’s shares in Sunlight European Battery Assembly (SEBA ) and at Sunlight Italy. Following the completion of the acquisition, Sunlight Group becomes the sole owner of SEBA and its subsidiary, Sunlight Italy, and will proceed with a new composition of the Board of Directors.
Commenting on the deal, Mr. Bissalas said: “SEBA is Sunlight’s core assembly unit in Europe and after acquiring 100% of its equity capital, we are moving forward with the execution of our ambitious business plan to support the growth of both manufacturing and as well as our commercial presence in Western Europe. I would like to thank the owners of BMG Energy, Mr. Flavio Scaramuzza and Mr. Wilhelm Menghin, for the excellent cooperation during the last decade. They shared with us their valuable knowledge resulting from from their deep experience in the Italian market, which undoubtedly led to the successful establishment of SEBA and Sunlight Italy”.
SEBA (Sunlight European Battery Assembly) is Sunlight Group’s assembly plant in Europe, which produces batteries using cells manufactured at the Sunlight Group Industrial Complex in the area of ​​Xanthi, Greece. Sunlight Italy supports SEBA’s operation, focusing on sales facilitation, and providing comprehensive customer and end-user services for Sunlight products, even after the sale.
Source: Capital
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